Papers on "Family Limited Partnerships" and similar term paper topics

Paper #098486 :: Family Limited Partnerships
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A discussion regarding the pitfalls and usefulness of the transfer of assets to a family limited partnership.

Written in 2006; 4,543 words; 20 sources; MLA; $ 118.95

Paper Summary:

This paper provides a review of the relevant literature to determine when a family limited partnership is appropriate. The paper analyzes the pertinent laws, including an examination of the Internal Revenue Code, regulations, case law and other rulings and matters that are relevant to a family limited partnership in general and tax planning in particular, to provide a comprehensive survey of the taxability of this business form. The paper concludes with a summary of the research and salient findings.

Outline:
Introduction
Review and Analysis
Analysis and Discussion
Conclusion

From the Paper:

"Beyond the foregoing considerations involving the selection of appropriate structures, funding mechanisms and the tax advantages of using family limited partnerships as a business form, Crayne (2001) emphasizes that the implications of the personal use of partnership property by one or more partners for income tax purposes remains uncertain. In the corporate context, the preponderance of the precedential law to date suggests that the personal use of corporate-owned property may result in deemed income or dividends to certain shareholders; however, the authoritative guidance on the income tax implications of the personal use of corporate-owned property may not be completely relevant to the personal use of partnership-owned property because, under state law, all partners in the family limited partnership have an equal right to use all partnership property (Crayne, 2001)."

Tags: taxpayers income streams financial advice liquidated assets framework IRS VEBA

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